Fox Run Management L.L.C. Grows Holdings in CNX Resources Corp (CNX)

Fox Run Management L.L.C. raised its holdings in shares of CNX Resources Corp (NYSE:CNX) by 77.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,875 shares of the oil and gas producer’s stock after buying an additional 25,175 shares during the period. Fox Run Management L.L.C.’s holdings in CNX Resources were worth $847,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CNX. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in CNX Resources by 9.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock valued at $114,000 after buying an additional 631 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of CNX Resources by 3.2% in the second quarter. Principal Financial Group Inc. now owns 856,037 shares of the oil and gas producer’s stock worth $12,789,000 after purchasing an additional 26,813 shares in the last quarter. Swiss National Bank increased its stake in shares of CNX Resources by 1.8% in the second quarter. Swiss National Bank now owns 307,058 shares of the oil and gas producer’s stock worth $4,587,000 after purchasing an additional 5,300 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of CNX Resources by 93.3% in the second quarter. JPMorgan Chase & Co. now owns 597,614 shares of the oil and gas producer’s stock worth $8,928,000 after purchasing an additional 288,471 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of CNX Resources by 32.5% in the second quarter. Private Advisor Group LLC now owns 16,951 shares of the oil and gas producer’s stock worth $253,000 after purchasing an additional 4,162 shares in the last quarter. 96.83% of the stock is owned by institutional investors and hedge funds.

Shares of CNX Resources Corp (CNX) traded up $0.88 during trading hours on Friday, hitting $12.58. 8,400,000 shares of the company were exchanged, compared to its average volume of 3,770,000. The company has a current ratio of 1.93, a quick ratio of 0.86 and a debt-to-equity ratio of 0.57. CNX Resources Corp has a 12-month low of $11.35 and a 12-month high of $15.51. The company has a market capitalization of $2,810.00, a price-to-earnings ratio of 7.49 and a beta of 1.49.

CNX Resources (NYSE:CNX) last issued its earnings results on Tuesday, January 30th. The oil and gas producer reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. CNX Resources had a net margin of 14.03% and a return on equity of 1.36%. The firm had revenue of $333.30 million during the quarter, compared to analyst estimates of $331.76 million. During the same quarter in the prior year, the business earned ($1.33) earnings per share. CNX Resources’s revenue for the quarter was up 19.0% on a year-over-year basis. equities research analysts anticipate that CNX Resources Corp will post 0.29 EPS for the current year.

CNX Resources declared that its Board of Directors has authorized a share buyback program on Tuesday, October 31st that authorizes the company to buyback $369.00 million in shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

CNX has been the subject of a number of analyst reports. Zacks Investment Research raised shares of CNX Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 19th. SunTrust Banks set a $17.00 price objective on shares of CNX Resources and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Barclays set a $16.00 price objective on shares of CNX Resources and gave the stock a “hold” rating in a research note on Tuesday, December 12th. ValuEngine cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird initiated coverage on shares of CNX Resources in a research note on Tuesday, December 19th. They issued an “outperform” rating and a $22.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. CNX Resources presently has an average rating of “Hold” and a consensus price target of $23.00.

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CNX Resources Profile

CNX Resources Corp., formerly CONSOL Energy Inc, is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.

Institutional Ownership by Quarter for CNX Resources (NYSE:CNX)

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